Tips for Those Who Missed the Tax Deadline

From the IRS –

Tips for Those Who Missed the Tax Deadline

Monday, April 18, was the tax deadline for most people in 2016. If you didn’t file a tax return or an extension to file but should have, take action now. If you missed the tax filing deadline:

  • File and pay soon. If you owe taxes, you should file and pay as soon as you can, which will stop the interest and penalties that you will owe. We don’t charge a penalty for filing a late return if you are due a refund. The sooner you file, the sooner you’ll get your refund.
  • IRS e-file is safe and quick. No matter who prepares your tax return, you can use IRS e-file through Oct. 17. E-file is the easiest, safest and most accurate way to file your taxes. The IRS will send you electronic confirmation when we receive your tax return, and we issue more than nine out of 10 refunds in less than 21 days.
  • Pay as much as you can. If you owe but can’t pay in full, you should pay as much as you can when you file your tax return. IRS electronic payment options are the quickest and easiest way to pay your taxes. You should pay what you owe as soon as possible to minimize penalties and interest
  • Make monthly payments through an installment agreement. If you need more time to pay your taxes, you can apply for a direct debit installment agreement through the IRS Online Payment Agreement tool. You don’t need to write and mail a check each month with a direct debit plan. If you don’t use the online tool, you can still apply on Form 9465, Installment Agreement Request. You can get the form at IRS.gov/forms at any time.
  • A refund may be waiting. If you are owed a refund, you should file as soon as possible to get it. Even if you are not required to file, you may still get a refund if you had taxes withheld from your wages or you qualify for certain tax credits like the Earned Income Tax Credit. If you don’t file your return within three years, you could lose your right to the refund.

Need More Time to File Your Taxes?

From the IRS –

Need More Time to File Your Taxes?

The April 18 tax deadline is coming up. If you need more time to file your taxes, you can get an automatic six-month extension from the IRS. Here are four things to know about filing an extension:

1. Use Form 4868. You can also request an extension by filling out Form 4868, Application for Automatic Extension of Time to File U.S. Individual Income Tax Return. You must mail this form to the IRS by April 18. Form 4868 is available on IRS.gov/forms.

2. More time to file is not more time to pay. An extension to file will give you until Oct. 17 to file your taxes. It does not, however, give you more time to pay your taxes. Estimate and pay what you owe by April 18 to avoid a potential late filing penalty. You will be charged interest on any tax that you don’t pay on time. You may also owe a penalty if you pay your tax late. Interest is normally charged on any unpaid tax.

3. IRS Direct Pay. Pay your tax with IRS Direct Pay. Visit IRS.gov/directpay to use this free and secure way to pay from your checking or savings account. You also have other electronic payment options. The IRS will automatically process your extension – and you don’t have to file a separate request — when you pay electronically. You can pay online or by phone.

4. IRS helps if you can’t pay all you owe. If you can’t pay all the tax you owe, the IRS offers you payment options. In most cases, you can apply for an installment agreement with the Online Payment Agreement application on IRS.gov. You may also file Form 9465, Installment Agreement Request. If you can’t make payments because of financial hardship, the IRS will work with you.

 

Each and every taxpayer has a set of fundamental rights they should be aware of when dealing with the IRS. These are your Taxpayer Bill of Rights. Explore your rights and our obligations to protect them on IRS.gov.